LN06-ch6-AFM101s11

3 million for the prior years second quarter the net

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Unformatted text preview: llion for the prior year’s second quarter. The net earnings were $0.07 before prior year’s second quarter. The net earnings were $0.07 before a $0.01 per share, non-recurring, non-cash charge to the a $0.01 per share, non-recurring, non-cash charge to the Company’s future income tax expense .. .. .. .. Company’s future income tax expense Financial Accounting, Third Canadian Edition 6-6 Annual Reports For privately held companies, annual reports For privately held companies, annual reports privately privately are simple documents that include: are simple documents that include: are are 1. Four basic financial statements. 1. Four basic financial statements. 2. Related notes (footnotes). 2. Related notes (footnotes). 3. Report of independent accountants 3. Report of independent accountants Report Report (auditor’s opinion). (auditor’s opinion). (auditor’s (auditor’s Financial Accounting, Third Canadian Edition 6-7 Annual Reports For public companies,, annual reports For public companies annual reports public companies annual public companies annual are elaborate due to SEC reporting are elaborate due to SEC reporting requirements: requirements: requirements: requirements: 1. A Nonfinancial Section 1. A Nonfinancial Section • A lletter to the shareholders, a description of etter • A lletter to the shareholders, a description of etter management’s philosophy, products, management’s philosophy, products, successes, etc. successes, etc. successes, successes, 1. A Financial Section 1. A Financial Section • See next slide for a detailed listing .. .. .. • See next slide for a detailed listing See See Financial Accounting, Third Canadian Edition 6-8 Annual Reports - Financial Section The Financial Section of a public company’s annual report includes: 1. Summarized financial 1. Summarized financial 1. Summarized Summarized data for 5- or 10-years. data for 5- or 10-years. data data 2. Management Discussion 2. Management Discussion Management Management and Analy...
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This note was uploaded on 09/22/2012 for the course AFM 101 taught by Professor Kennedy during the Spring '08 term at Waterloo.

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